In the first half of 2022, China's new energy vehicles (NEV) production and sales recorded an excellent performance, with NEV cars accounting for 59 percent of the world's total NEV sales, thanks to the country's strong supply chain and market demand, Cui Dongshu, secretary general of the China Passenger Car Association (CPCA), said on Sunday.

According to Cui, in the first six months of 2022, the world's NEVs maintained strong pace of growth with sales reaching 4.21 million units, up 71 percent year-on-year. Among them, 880,000 vehicles were sold in June, an increase of 46 percent year-on-year.

From January to June, China sold 2.34 million NEVs, surpassing 1.09 million units in the European market and 500,000 in North America.

Due to the downturn in the NEV market in Europe affected by COVID-19 pandemic and the Russia-Ukraine conflict, China's NEV sales gained weight, accounting for 59 percent of the world's NEV sales, Cui said.

"That China drives the world's NEV increment in the first half of this year was mainly boosted by the strong growth of domestic NEV consumption and stable supply chain," Cui noted. 

China's NEV market growth is inspired by many positive factors including surging consumption, tax exemptions and other government policy measures. Going with the overall trend of global auto market transformation, NEVs production and sale are expected to return to normal levels, Cui said.

The penetration rate of NEVs globally has continued to rise, which now stands at approximately10 percent. In China, NEV penetration has reached 22 percent while the rate for the US is only 7 percent.

As Europe, the US and other parts of the world increase their penetration of NEVs, the world's NEV market will enter a new phase of strong development, Cui said.

Global Times